Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 16.770 | 0 | 0.0000% / 1h | 1m 59s | $368K | $59K | 30x | Long QFEX | |
| SHORT | 16.760 | 0 | 0.0000% / 8h | 3h 01m | $1.3M | $159K | 10x | Short Phemex |
Price gap−0.060%
Funding gap0.0000% /8h
Funding is ≈ 0, so this is a price-spread trade: +$171 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding$00.0000% /8h now · paid 0.000% over the last 5 days (all we have)
Price+$171spread −0.060% now, avg −1.766% → +1.707% if it goes back
Costs−$2042.035% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.060%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hUVXY on 16 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size40.4 / 66.5 bpAt $10k entering Phemex costs 66.5 bp, fee and slippage, 1.6× QFEX’s.
- Note: Margin at max leverage$333 + $1,000QFEX 30x, Phemex 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: $0.00Long QFEX: 24 payments, $0.00; short Phemex: 3 payments, $0.00.
- OK: Entry gap works for you−0.060% vs −1.766%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$368K vs $1.3M OIQFEX sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCQFEX No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned0.0000%/8h × 21 periods−$0.01
Price spread−0.060% → −1.766% (7d avg)+$170.68
Slippage, 4 orderslive order books−$181.54
Fee QFEX bp × 2 orders−$10.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$32.87
Costs to cover2.035%Break-evennever at this rate
Slippage: QFEX: live order book, 46 min ago; Phemex: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGQFEX5.9140.4 bp−$40doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhemex5.9666.5 bp−$66doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.